MS HB94

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $719,040 to assist the City of Baldwyn, Mississippi with drainage improvements and paving of Carrollville Avenue.

Creates a special fund designated "2024 City of Baldwyn Carrollville Avenue Fund" within the State Treasury to receive bond proceeds and disburse funds for the drainage and paving projects.

Bonds shall be signed by the Bond Commission chairman, bear interest rates not exceeding limits set in Mississippi Code Section 75-17-101, mature within 25 years, and are secured by the full faith and credit of the State of Mississippi.

Authorizes the State Treasurer to issue warrants as necessary to pay principal, interest, and premiums on bonds when due, with all bond proceeds exempt from state taxation.

No bonds may be issued under this act after July 1, 2028, and any remaining funds after project completion shall be applied to debt service on the issued bonds.